At Selkirk Insurance Services in Sandpoint, ID, we work with ranch owners regularly. Fences, barns, equipment sheds, and other structures are a big part of what makes a ranch function, but they’re also some of the most overlooked areas when it comes to insurance coverage. Understanding how your farm and ranch policy handles these assets can save you from an unpleasant surprise down the road.
Fencing Is Often Underinsured
Most ranch owners never really think about their fencing until something damages it. Whether it’s a fallen tree, a vehicle accident, or a severe storm, repairing or replacing miles of fencing can be expensive. Many standard farm policies either exclude fencing entirely or offer only limited coverage. Knowing exactly what your policy covers before something happens is worth every minute it takes to check.
Other Farm Structures Deserve a Closer Look
Barns, hay storage buildings, grain bins, and pump houses are often listed as other farm structures within your policy. These are typically covered at a percentage of your main dwelling or primary farm building’s value. That percentage may not come close to what it would actually cost to rebuild or repair one of those structures today, especially given current material and labor costs. Reviewing those limits regularly helps ensure you’re not caught short when you need your coverage most.
Make Coverage Reviews a Regular Habit
An annual review of your farm and ranch policy is a smart habit for any property owner. Small updates to your operation or land use can have a real effect on what your coverage actually needs to include.
Reach out to Selkirk Insurance Services in Sandpoint, ID, today, and let us help make sure every part of your ranch operation is properly covered.
